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The Garfield Company accounts for its investment in its unconsolidated affiliate Brookfield Enterprises using the equity method. The Garfield Company's annual report disclosed the book
The Garfield Company accounts for its investment in its unconsolidated affiliate Brookfield Enterprises using the equity method. The Garfield Company's annual report disclosed the book value of its 40 percent ownership interest in Brookfield as follows:
Amounts in Millions
Equity investment in Brookfield
During Year 2, Brookfield reported net income of $300 Million
What amount of dividends was paid by Brookfield to Garfield during year 2?
(1) $60.0 Million
(2) $24.0 Million
(3) $40.0 Million
(4) $29.0 Million
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